Insurance group buys new office

A week after selling its Bluebonnet Boulevard offices for just over $1 million, the Independent Insurance Agents and Brokers of Louisiana bought an office building near Highland and Perkins for $815,000.

The IIABL bought the property at 18153 E. Petroleum Drive in a deal that was filed Tuesday with the East Baton Rouge Clerk of Court’s Office. The seller was Gizmo Investments LLC of Baton Rouge.

Jeff Albright, CEO of the IIABL, which represents more than 400 independent insurance agents, said the organization had been looking for a new space for a while. “We wanted a place that was a little bigger and better configured for our staff, with bigger conference rooms to hold meetings,” he said.

The new office is 4,900 square feet, while the existing offices are 3,500 square feet. Albright said the plan is to start moving on Nov. 13. IIABL has seven full-time employees and a couple of part-time workers, Albright said.

The IIABL sold its offices at 9818 Bluebonnet in a deal that closed on Sept. 24. The buyer was Trecon, a Zachary-based engineering firm, which will open a second location at the site.

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